Locks at the Racetrack

Donald B. Hausch and William T. Ziemba
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Donald B. Hausch: School of Business, University of Wisconsin, Madison, Wisconsin 53706
William T. Ziemba: Faculty of Commerce and Business Administration, University of British Columbia, Vancouver, BC, Canada V6T 1Y8

Interfaces, 1990, vol. 20, issue 3, 41-48

Abstract: The folklore of investment is replete with stories of arbitrage opportunities where profits can be made without risk. Such a “lock” exists at the racetrack. A simple model provides a criterion for existence of a set of bets to create the arbitrage plus the size of the various investments.

Keywords: recreation/sports; games/group decisions: gambling (search for similar items in EconPapers)
Date: 1990
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:orinte:v:20:y:1990:i:3:p:41-48

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